Geely Proposes to Take Zeekr Private
Zeekr aims to become a leading player in the luxury electric-vehicle sector within the next two years.
Photo: hector retamal/Agence France-Presse/Getty Images
Chinese automaker Geely Automobile 175 0.24%increase; green up pointing triangle said it plans to privatize its Zeekr ZK 2.36%increase; green up pointing triangle brand, just shy of a year after its U.S. initial public offering.
The Hangzhou-based automaker said Wednesday that it proposed to privatize Zeekr by acquiring all of its issued and outstanding shares and its American depositary shares. The move will help 'drive deep integration and efficient collaboration of internal resources, eliminate redundant investments, reduce costs, enhance corporate competitiveness and create long-term value,' Geely said in a statement.
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